Local businessman José M. Baeza, seeks to expand, diversify its business portfolio
San Juan, Puerto Rico, — Puerto Rican company Grupo Baeza has acquired AutoGrupo Nissan and Kia auto dealerships on the Island, announced José M. Baeza, president and CEO of the company. Grupo Baeza is a 3rd generation family business, and parent company of Teselta, a company that specializes in the rental and sale of construction, agriculture, air and forklift equipment, among others. With this acquisition, the company continues the expansion of its footprint and diversification plan for the Puerto Rico market.
“We welcome the employees of AutoGrupo Nissan and Kia to the Grupo Baeza family. We are very pleased with this transaction, which signifies the return of AutoGrupo to Puerto Rican hands. A new era begins today for AutoGrupo. Our business commitment is focused on providing our customers with the best options in automobiles, parts, and exceptional service, as well as contribute to the economic development of the island,” said Baeza.
AutoGrupo dealerships were acquired Paulson & Company. As part of the transaction, Grupo Baeza acquired three dealerships including Nissan and Kia at Kennedy Avenue, a Nissan 65th Avenue. The new owners confirmed that the total number of employees, estimated at approximately 125 in all three dealerships will be joining the ranks of the new company.
Baeza added that a renovation plan of these locations is planned for and will include optimizing all dealerships to elevate the consumer experience with the latest standards of the Kia and Nissan brands. The renovation includes an estimated investment of $3 million dollars and is projected to begin soon. Grupo Baeza expects to complete the renovation project in approximately twelve months, and, as explained by the company’s CEO “we are confident with the market goals we have envisioned for AutoGrupo, and proud of a robust company team with industry expertise and a commitment to provide our customers with excellent service”.
About Grupo Baeza:
Grupo Baeza (GB) is a third-generation Puerto Rican family business, with more than 65 years of experience and a successful trajectory across various industries in Puerto Rico, the United States, Panama, Costa Rica and the Dominican Republic. GB is the parent company of Teselta.
